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University of Essex

University of Essex

Date
March 2017

Sector
Education

Transaction
Refinancing of Student Accommodation

Value
£98m

Role
Financial Advisor

QMPF acted as financial advisor to the University of Essex in the £98m refinancing of its student accommodation partnership with Uliving which reached financial close in February 2017. The refinancing involved c. 1400 beds operated by Uliving on the University’s campus at the Meadows and the Quays. The transaction reached its original financial close in 2012 and has been operational since 2013. The £98m of senior debt was provided by Pension Insurance Corporation through a 42 year bond index linked bond wrapped by Assured Guaranty.

Andrew Keeble, Director of Finance at the University of Essex said “The refinancing has secured the long-term funding of our student accommodation provision and is an important transaction for the University. QMPF’s advice enabled us to evaluate the commercial impact carefully and to generate best value to the University.”

For further information contact

Peter Lyons

Partner

+44 (0)131 222 2613

Nicola Foy

Associate Director

+44 (0)131 222 2606

QMPF LLP, Excel House, 30 Semple Street, Edinburgh EH3 8BL
+44 (0)131 222 2600
info@qmpf.co.uk

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